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Copper, Aluminium at multi-year highs; charts suggest more upside likely

Copper futures topped the $10,000-mark for the first time in 2 years, Aluminium futures quoted at 2-year highs earlier this month; here are the key levels to watch out.

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Rex Cano Mumbai

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Base metals have witnessed a strong rally on the commodity exchanges, with copper and aluminium futures trading around 2-year highs. Meanwhile, precious metals such Gold and Silver futures hit record highs in recent days.

Technical charts suggests, that the base metal may cover more ground on the upside, while Gold and Silver futures may consolidate in the near-term.

Copper
Current Level: $10,010/ Rs 858
Upside Potential: 3.7%

Copper futures have rallied 23 per cent in the last 11 weeks in the international market. The base metal commodity is presently quoting above the higher-end of the Bollinger Bands on the weekly and monthly

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